Nigeria Plans to Suspend P2P Crypto Trading to Regulate the Market
Sunday, 5 May 2024, 15:02
Introduction
The Nigerian government's focus on regulating the cryptocurrency sector through potential suspension of P2P trading.
Regulatory Steps
Considering the temporary suspension post a meeting on May 6, aiming to set up clear guidelines and prevent misuse.
Industry Engagement
Plans for an industry-wide meeting with the blockchain community to develop the regulations for better clarity.
Impact on Traders
Concerns for Nigeria's 33.4 million crypto traders and the possible implications for the local currency against the USD.
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